Fed holds rates on inflation concerns
By Robin Harding in Washington
FT.com
Published: June 22 2011 17:44
The US Federal Reserve gave a downbeat assessment of the world’s largest economy on Wednesday as it pointed to slower than expected growth and higher inflation.
In the most significant change to its policy statement, it stripped out all reference to “subdued” measures of underlying inflation and said that the economy is growing “somewhat more slowly than the Committee had expected”.
The toxic combination of disappointing growth but higher inflation combined to leave no hint that the central bank will consider further asset purchases to stimulate the economy.
Full story: http://www.ft.com/cms/s/0/9f913490-9cea-11e0-8678-00144feabdc0.html#axzz1Q27RAEon
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